NBER Working Papers

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606: Inflation, the Stock Market, and Owner-Occupied Housing

Lawrence Summers

605: Tax Policy and Corporate Investment

Lawrence Summers

604: Inflation, Taxation, and Corporate Investment: A q-Theory Approach

Lawrence Summers

603: How Close to an Auction Is the Labor Market? Employee Risk Aversion, Income Uncertainty, and Optimal Labor Contracts

James N. Brown

602: International Price Behavior and the Demand for Money

Arthur E. Gandolfi and James Lothian

601: Real Effects of Anticipated and Unanticipated Money: Some Problems of Estimation and Hypothesis Testing

Willem Buiter

600: Social Insurance and Consumption: An Empirical Inquiry

Daniel Hamermesh

599: Macroeconomic Policy, Exchange-Rate Dynamics, and Optimal Asset Accumulation

Maurice Obstfeld

598: The International Financial Market and U.S. Interest Rates

David G. Hartman

597: Variable Cost Functions and the Rate of Return to Quasi-Fixed Factors: An Application to R and D in the Bell System

M. Ishaq Nadiri and Mark Schankerman

596: Accelerated Depreciation and the Efficacy of Temporary Fiscal Policy: Implications for an Inflationary Economy

Andrew Abel

595: On Expectations, Term Premiums and the Volatility of Long-Term Interest Rates

James Pesando

594: Taxes and Corporate Capital Structure in an Incomplete Market

Robert A. Taggart, Jr.

593: Symmetry Restrictions in a System of Financial Asset Demands: A Theoretical and Empirical Analysis

V. Vance Roley

592: Oil, Disinflation, and Export Competitiveness: A Model of the "Dutch Disease"

Willem Buiter and Douglas Purvis

591: Monetary Policy and International Competitiveness

Willem Buiter and Marcus Miller

590: A Model of the Black Market for Dollars

Rüdiger Dornbusch, Daniel Valente Dantas, Clarice Pechman, Roberto de Rezende Rocha and Demetrio Simoes

589: Unanticipated or Actual Changes in Aggregate Demand Variables: A Cross-Country Analysis

Michael Darby

588: Inflation, Taxation, and Corporate Behavior

Roger Gordon

587: Effects of Shifting Saving Patterns on Interest Rates and Economic Activity

Benjamin M. Friedman

586: The Effect of Federal Debt Management Policy on Corporate Bond and Equity Yields

V. Vance Roley

585: International Transmission under Pegged and Floating Exchange Rates: An Empirical Comparison

Michael Darby

584: Self-Employment and Labor Force Participation of Older Males (Revised)

Victor Fuchs

583: Modeling Alternative Solutions to the Long-Run Social Security Funding Problem

Michael J. Boskin, Marcy Avrin and Kenneth Cone

582: Energy and Growth under Flexible Exchange Rates: A Simulation Study

Jeffrey D. Sachs

581: International Effects on the U.S. Capital Market

David G. Hartman

580: The Role of Economic Policy after the New Classical Macroeconomics

Willem Buiter

579: Social Security, Induced Retirement, and Aggregate Capital Accumulation:A Correction and Updating

Martin Feldstein

578: The Reservation Wage of Unemployed Persons in the Federal Republic of Germany: Theory and Empirical Tests

Wolfgang Franz

577: Inflation, Tax Rules, and Investment: Some Econometric Evidence

Martin Feldstein

576: Taxation and Corporation Finance

Roger Gordon and Burton G. Malkiel

575: Monetary and Fiscal Policies in an Open Economy

Jacob A. Frenkel and Michael Mussa

574: Symmetric Substitution Matrices in Asset Demand Systsems

David S. Jones

573: Consistent Simple Sum Aggregation over Assets

David S. Jones

572: Accumulation and Growth in a Two-Country Model: A Simulation Approach

David Lipton and Jeffrey Sachs

571: International Trade, Indebtedness, and Welfare Repercussions among Supply-Constrained Economies under Floating Exchange Rates

Bryce Hool and J. David Richardson

570: Wage and Employment Determinants under Trade Unionism: The InternationalTypographical Union

James N. Dertouzos and John Pencavel

569: The Collapse of Purchasing Power Parities during the 1970s

Jacob A. Frenkel

568: Private Pensions and Inflation

Martin Feldstein

567: Two Notes on Exchange Rate Rules and on the Real Value of External Debt

Rüdiger Dornbusch

566: Asset Prices, Substitution Effects, and the Impact of Changes in Asset Stocks

Carl Walsh

565: The Use of Volatility Measures in Assessing Market Efficiency

Robert Shiller

564: The Determinants of the Variability of Stock Market Prices

Sanford Grossman and Robert Shiller

563: Alternative Tests of Rational Expectations Models: The Case of the Term Structure

Robert Shiller

562: Reconsidering the Work Disincentive Effects of Social Security

Alan Blinder, Roger Gordon and Donald E. Wise

561: Patents and R and D at the Firm Level: A First Look

Ariel Pakes and Zvi Griliches

560: The Importance of Lifetime Jobs in the U.S. Economy

Robert Hall

559: Price Level Determinacy with an Interest Rate Policy Rule and Rational Expectations

Bennett McCallum

558: Tests of Equilibrium Macroeconomics Using Contemporaneous Monetary Data

John F. Boschen and Herschel Grossman

557: Capital Mobility and Devaluation in an Optimizing Model with Rational Expectations

Maurice Obstfeld

556: Trade Adjustment Assistance under the U.S. Trade Act of 1974: An Analytical Examination and Worker Survey

J. David Richardson

555: Inflation Stabilization and Capital Mobility

Rüdiger Dornbusch

554: Oil and the Dollar

Paul Krugman

553: Inflation, Income Taxes, and Owner-Occupied Housing

James Poterba

552: Wages, Nonwage Job Characteristics, and Labor Mobility

Ann P. Bartel

551: The Variance and Acceleration of Inflation in the 1970s: Alternative Explanatory Models and Methods

Jon Frye and Robert Gordon

550: Government Intervention in the Inflation Process: The Econometrics of "Self-Inflicted Wounds"

Jon Frye and Robert Gordon

549: The Timing of Monetary and Price Changes and the International Transmission of Inflation

Anthony Cassese and James Lothian

548: Transfers, Taxes, and the NAIRU

Daniel Hamermesh

547: Inflation and the Tax Treatment of Firm Behavior

Alan Auerbach

546: Taxation, Portfolio Choice, and Debt-Equity Ratios: A General Equilibrium Model

Alan Auerbach and Mervyn A. King

545: Staggered Wage Setting without Money Illusion: Variations on a Theme of Taylor

Willem Buiter and Ian Jewitt

544: Gold Monetization and Gold Discipline

Robert Flood and Peter Garber

543: The Economics of Tenure Choice: 1955-79

Patric Hendershott and James D. Shilling

542: Expected Inflation and Equity Prices: A Structural Econometric Approach

David S. Jones

541: Three Papers on Brazilian Trade and Payments

Eliana Cardoso and Rüdiger Dornbusch

540: Intermediate Imports, the Terms of Trade, and the Dynamics of the Exchange Rate and Current Account

Maurice Obstfeld

539: Time Preference and Health: An Exploratory Study

Victor Fuchs

538: Estimated Effects of the October 1979 Change in Monetary Policy on the 1980 Economy

Ray Fair

537: Exchange-Rate Expectations and Nominal Interest Differentials: A Test ofthe Fisher Hypothesis

Robert Cumby and Maurice Obstfeld

536: Further Evidence on the Value of Professional Investment Research

Kenneth L. Stanley, Wilbur G. Lewehlen and Gary G. Schlarbau

535: Some Aspects of the Canadian Experience with Flexible Exchange Rates in the 1970s

Charles Freedman and David Longworth

534: Incomplete Information, Risk Shifting, and Employment Fluctuations

Herschel Grossman

533: The Tax Advantages of Pension Fund Investments in Bonds

Fischer Black

532: Microeconomic Aspects of Productivity Growth under Import Substitution: Turkey

Anne O. Krueger and Baran Tuncer

531: Policy Decentralization and Exchange Rate Management in Interdependent Economies

Willem Buiter and Jonathan Eaton

530: Does the Investment Interest Limitation Explain the Existence of Dividends?

Daniel Feenberg

529: The Historical Evolution of Female Earnings Functions and Occupations

Claudia Goldin

528: The Capitalization of Income Streams and the Effects of Open Market Policy under Fixed Exchange Rates

Maurice Obstfeld

527: The Optimal Weighting of Indicators for a Crawling Peg

William Branson and Jorge Braga de Macedo

526: Inflation, Portfolio Choice, and the Price of Land and Corporate Stock

Martin Feldstein

525: The Relation of Stock Prices to Corporate Earnings Adjusted for Inflation

Phillip Cagan

524: The Role of Money Supply Shocks in the Short-Run Demand for Money

Jack Carr and Michael Darby

523: Aggregate Land Rents and Aggregate Transport Costs

Richard Arnott and Joseph Stiglitz

522: Import Competition and Macro Economic Adjustment under Wage-Price Rigidity

Michael Bruno

521: Prices and Market Shares in the International Machinery Trade

Irving B. Kravis, Robert Lipsey and Dennis M. Bushe

520: Transition Losses of Partially Mobile Industry-Specific Capital

Don Fullerton

519: Labor Market Competition among Youths, White Women, and Others

James H. Grant and Daniel Hamermesh

518: Anticipated Inflation, the Frequency of Transactions, and the Slope of the Phillips Curve

Zvi Hercowitz

517: Monetary Policy and Long-Term Interest Rates: An Efficient Markets Approach

Frederic Mishkin

516: Implications for the Adjustment Process of International Asset Risks: Exchange Controls, Intervention and Policy Risk, and Sovereign Risk

Willem Buiter

515: Inventories and the Structure of Macro Models

Alan Blinder

514: Demographic Differences in Cyclical Employment Variation

Kim B. Clark and Lawrence Summers

513: Market Wages, Reservation Wages, and Retirement Decisions

Roger Gordon and Alan Blinder

512: Analyzing the Relation of Unemployment Insurance to Unemployment

Alan Gustman

511: A Model of Firms' Decisions to Export or Produce Abroad

J. Weinblatt and Robert Lipsey

510: Distributions of Family Hospital and Physician Expenses

Bernard Friedman

509: Pension Funding, Share Prices, and National Saving

Martin Feldstein and Stephanie Seligman

508: State and Local Taxes and the Rate of Return on Nonfinancial Corporate Capital (revised as W0740)

Martin Feldstein and James Poterba

507: Are Market Forecasts Rational?

Frederic Mishkin